Interfor Board Chair Plans to Sell Common Shares

BURNABY, British Columbia, Feb. 15, 2021 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today that Lawrence Sauder, Chair of Interfor’s Board of Directors, has advised the Company of his intention to sell, subject to market conditions, a portion of his common shares of Interfor within the next 9 months. This transaction is a result of financial and estate planning. Mr. Sauder currently holds 345,274 common shares and 97,271 deferred share units and he will continue to exceed his minimum share ownership requirement of three times the current annual non-executive director after any sale.

Mr. Sauder emphasized he will remain a long-term investor in Interfor and continues to have great confidence in the Company’s future.

For the same planning reasons, Mr. Sauder has advised Hardwoods Distribution Inc., a publicly listed building products distributor, of which he is Board Chair, that he is also selling a portion of his common shares in that Company.

FORWARD-LOOKING STATEMENTS

This release contains forward-looking information about the Chair’s intention to trade in the Company’s common shares. Readers are cautioned that actual results may vary from the forward-looking information in this release, and undue reliance should not be placed on such forward-looking information. Risk factors that could cause actual results to differ materially from the forward-looking information in this release are described in Interfor’s annual Management’s Discussion & Analysis under the heading “Risks and Uncertainties”, which is available on and under Interfor’s profile on Material factors and assumptions used to develop the forward-looking information in this report include volatility in the Company’s share price. Unless otherwise indicated, the forward-looking statements in this release are based on the Company’s expectations at the date of this release. Interfor undertakes no obligation to update such forward-looking information or statements, except as required by law.

ABOUT INTERFOR

Interfor is a growth-oriented forest products company with operations in Canada and the United States. The Company has annual production capacity of approximately 3.0 billion board feet and offers a diverse line of lumber products to customers around the world. For more information about Interfor, visit our website at .

Investor contact and further information:

Mike Mackay, Vice President of Corporate Development & Strategy

(604) 689-6846